The United States Supreme Court has denied a petition seeking review of a Seventh Circuit decision holding that a consumer lacked Article III standing to challenge an alleged violation of the Fair and Accurate Transactions Act where the defendant retailer printed more than the last five digits of his credit card number and the expiration
Employer Seeks Supreme Court Review of Ninth Circuit Finding of Willful FCRA Violation
On January 20, 2017, the Ninth Circuit Court of Appeals issued a decision of first impression in Syed v. M-I, LLC, a putative class action, when it held that a prospective employer willfully violated the Fair Credit Reporting Act by including a liability waiver in its FCRA background check disclosure form.
In the underlying
IRS Debt Collector Engages in Unscrupulous Collection Practices
On June 23, several United States senators, led by Sen. Elizabeth Warren (D-Mass.), accused a debt collector of relying on unscrupulous collection practices while collecting on behalf of the Internal Revenue Service.
The IRS is owed approximately $138 billion in back taxes. To reduce the backlog of taxes owed and to supplement the agency’s internal
New Federal Appeals Court Ruling Provides Ray of Sunshine for TCPA Defendants: Contractual Consent to Receive Calls Cannot be Revoked
Lawsuits under the Telephone Consumer Protection Act (TCPA) have become the second most common form of consumer protection claim brought in federal court. Many of these lawsuits are premised on the idea that a consumer has the absolute right to revoke previously given consent to receive calls. A calling party could be subject to statutory
New Consumer Finance Lawsuits Increase in May 2017, On Pace with 2016
New data from WebRecon reflects an increase in the number of consumer finance lawsuits filed during the month of May. After a sharp decline in the number of Fair Debt Collection Practices Act, Telephone Consumer Protection Act, and Fair Credit Reporting Act lawsuits filed during the month of April, May saw a roughly 30% increase
Supreme Court Refuses to Extend the Scope of the FDCPA to Consumer Finance Company
On June 12, 2017, the United States Supreme Court rendered a unanimous decision holding that a company collecting debts that it purchased for its own account does not meet the statutory definition of “debt collector” under the Fair Debt Collection Practices Act (FDCPA) because the debts are no longer “owed or due another.” We previously
CFPB Encourages Retail Credit Card Companies to Consider More Transparent Promotions
The Consumer Financial Protection Bureau (“CFPB”) sent letters to the top retail credit card companies at the beginning of June, encouraging the companies to use more transparent promotions, citing a major retailer’s decision to end deferred-interest programs associated with its credit card. In the letter, the Bureau outlined its concerns that temporary promotions – such
Pending Changes to Federal Bankruptcy Rules Could Negatively Impact Residential Mortgage Lenders
The U.S. Supreme Court has approved changes to the Federal Bankruptcy Rules that, if they become effective, will result in important alterations to the filing of proofs of claim by residential mortgage lenders in Chapter 7, 12 and 13 cases. A proposed change to Bankruptcy Rule 3002 will shorten the time within which a creditor
Join Us for a Complimentary Webinar: A Review of the Supreme Court’s Decision in Henson v. Santander
On Wednesday, June 21, 2017, from 4:00 – 4:30 p.m. ET, Troutman Sanders attorneys David N. Anthony and Ethan G. Ostroff will explore the Supreme Court’s unanimous decision issued on June 12, 2017 and how it may affect companies in the collection industry. This decision resolves a Circuit split on the narrow issue of whether
Join Us for a Complimentary Webinar: “The CHOICE Act Passed the House: Now What? An Update on Financial Industry Regulation Under the Trump Administration”
On Thursday, June 29, from 3-4 p.m. ET, Troutman Sanders attorneys Ashley Taylor, Alan Wingfield and Mary Zinsner will present a webinar examining the current status and prospects for the Financial CHOICE Act 2.0, deregulation and the rollback of Dodd Frank, and the ongoing courtroom attacks on the CFPB. The webinar will also cover recent